You really have to wonder what, exactly, IBM will look like in a year. Talk revived this week about the tech giant trying to sell off its chip business, with a new leading candidate,¬†Globalfoundaries, emerging, according to¬†the Wall Street Journal¬†and¬†Reuters.¬†Globalfoundries is the product of a joint venture by AMD and the Advanced Technology Investment Company. It launched in 2009.

Globalfoundries Inc. has emerged as the leading candidate to buy¬†International Business Machines Corp.‘s¬†IBM¬†+0.49%¬†semiconductor-making operations, said people familiar with the matter.¬†IBM also held talks with chip makers¬†Intel Corp.¬†INTC¬†-0.19%¬†and¬†Taiwan Semiconductor Manufacturing Co.,¬†2330.TW¬†-1.25%¬†the people said, but TSMC has dropped out of the talks. While Intel is still involved, Globalfoundries appears to have a stronger interest, they said.¬†Talks between IBM and Globalfoundries are continuing and A deal isn’t imminent. It involves thorny issues, the people said, including control of intellectual property and terms under which the facilities’ ultimate buyer might continue to make chips for IBM computers.